Why Marketing KPIs Dashboards are Important for Decision Making?

1
Welcome To Loginworks Softwares
2
Why Marketing KPIs Dashboards are Important for
Decision Making?
In this data-driven world, everything counts upon
insights and facts. Whether it is a technological
advancement or evaluating the performance, data
is used everywhere. In this context today we will
talk about how these numeric values even became
so important for marketing. Lets start with a
quick brief of Key Performance Indicator
(KPI). Key Performance Indicator (KPI) Key
Performance Indicator (KPI) is a numeric value
that shows whether your team or company is
reaching to its targets. CEOs, Leaders, and
Managers use KPIs to evaluate the performance of
business processes and individuals. Monitoring
KPIs helps you to assess your organizations
performance and make data-driven decisions to
grow faster. Below image shows how the KPI
dashboard looks like.
3
KPI key performance
Generally, if we see indicator normally as a
numeric value which gives us information. How? a
big question mark simply if we see in case of
temperature with any measuring device we have set
up indicators, we get low and high values
(numeric)degrees, we can draw a graph on basis of
these values. It is easier for us to take the
decision on basis of Graph. In the same way, we
will discuss KPI key performance indicator in the
case of marketing that is an indicator (numeric)
value which will evaluate the performance with
the goals set up by the organizations. As said
earlier KPI in a broader sense is a measurable
value that gives you a picture of how the
organization is achieving key business objectives
according to the set goals. In this blog, you can
read in detail about marketing KPIs and how they
are useful for decision making.
4
What is Marketing KPI?
Now if you can spend some time looking into your
marketing strategies you probably will get a good
idea of what is important? But how can you
evaluate that your marketing plan is working
well? Or how can you decide what you have to do
next? The only answer to these questions is to
monitor your set key performance indicators. In
this blog, you can read about the most demanding
KPI i.e. marketing KPI and how you can use them
to take better decision. So Marketing KPIs are
basically the indicators which track the progress
of marketing activities traversing towards the
goals set up by the organization.
5
Marketing KPIs basically includes some important
performance indicators that allow the marketing
team to quickly analyze inbound marketing
strategies. It is a smart web analytics that
gives insights into the overall direction of
marketing efforts. The Marketing Professionals
get a clear glimpse of the overall performance of
their marketing campaigns. Below are the five
basic KPIs 1. Customer Metrics 2. Product Prici
ng Indicators 3. Sales Effectiveness Measures 4.
Promotion Efficiency Measures 5. Brand Metrics

6
Marketing KPIs Dashboard
Marketing KPIs Dashboard fetches data from
multiple sources in real time. It displays the
actionable insights in a single location. They
provide at a glance summary of how marketing
campaigns and promotional activities are
performing. These dashboards give most emphasis
on reporting for that dynamic visual aids such as
charts, graphs, heat maps, plotters, and
timelines are used to illustrate a variety of key
performance indicators. These KPIs shows the
metrics related to 1. Conversion Rates 2. Lead
Pipeline 3. Geographic Data 4. Demographic
trends 5. Organic search paid media and referral
marketing 6. Revenue Generation 7. Content
Engagement Metrics So basically you can say that
Marketing KPI dashboards are software that shows
actionable insights that are further used for
intelligent decision making. They show the
different important aspects of your marketing
activities to evaluate the performance of your
marketing strategy.
7
Features of Marketing KPIs Dashboard
Here we have some of the important features of
Marketing KPIs Dashboard 1. It has Data
Visualization that displays the data in a visual
form which is simpler and easier to
understand. 2. The insights present are in the
form of patterns and colors to differentiate the
various parts of the marketing process. 3. A
graphical representation is easier to understand
by end user rather mingle with numbers and
bundles of data with thousands of entries. 4.
Tables used in dashboards are structures
containing columns and rows. 5. Bar Charts gives
the bar representation of data which shows the
comparison between the activities for example
sales forecast for the month. 6. Line Charts show
a curve or pattern which displays data against
the activities. Gauges are used to show progress
for an objective. The colors used are for target
achieved and not achieved. 7. A marketing
dashboard is easily customizable according to the
needs of any business or respective
department. 8. Most of the marketing dashboards
are mobile optimized either through a native app
or with a web interface. 9. Dashboards are
scalable that means they can expand as your
projects grow and get more resource intensive.
8
Importance of Marketing KPIs Dashboard
Modern marketers apply an artistic sensibility
and a scientific approach to data and analytics.
Marketing professionals use this beauty of a
dashboard for better decisions and frame
marketing policies accordingly. A marketing
dashboard is a reporting tool that displays
marketing analytics lets discuss some of its
importance 1. Marketing KPIs Dashboard gives the
overall progress of the various components of the
marketing that help you to know your strong and
weak areas. 2. Metrics using data visualizations
display the performance with real-time data. 3.
These dashboards are designed to capture the Web
data, Traffic on the website along with the
Leads. 4. It has a Lead funnel that gives the
information about the number of visitors, their
actions, and their duration on the website so
that you can plan your marketing strategies
accordingly. 5. With tracking metrics on a daily,
weekly, and monthly basis, marketers can act on
data to immediately improve performance. 6. It
also gives social media track reports. These
reports help business owners or digital marketing
team to make the best use of the media from where
the maximum organic traffic is coming.
9
Take the example of this Marketing KPIs Dashboard
to get a clear understanding of how it works.
10
Lead Breakdown Metrics We begin with lead breakdo
wn metrics its showing the percentage of trial
and non-trial leads in the above image. You can
also see the number of leads generated in a month
out of total web users visited the web page of
this company. Google Analytics Web Traffic Metric
s In this, you can see the metrics of different s
ources from where the traffic is coming to this
site. The top is organic search with the highest
conversion rate and maximum time spent. This
gives an idea to the marketers and decision
makers that what are the sources from where they
can get the maximum traffic. They could easily
check the performance of each source as well and
opt for the best one accordingly.
Key Conversion Metrics Next is the key
conversion metrics that gives an idea about the
quality of conversion leads for the whole month.
It is showing the percentage of active leads, the
percentage of high demography and voting sales.
It gives an idea to decision makers and marketers
how many leads and actually converting into sales.
11
Leads by Region The dashboard is also highlightin
g the different regions from where the company is
getting its maximum leads. The sequence shows the
best region to target your audience. With the
help of this insight, marketers can easily
penetrate their potential and existing market.
Top Social Media Metrics Here we can see
Facebook is at the top amongst Twitter, Youtube,
and other Social media platforms. So according to
the metrics, Facebook is the best media for this
company to run marketing and promotional
campaigns in order to attract potential and
existing buyers. The above Marketing KPI dashboar
d shows how marketers track the performance of
their online marketing activities. In the
dashboard, we see leads generated in the
different span of time. Google Analytic is
showing the information on visits and web traffic
generated on the website. It is showing organic
search and for the redirect page to reach the
targeted website of the organization.
The scope of Marketing KPIs Dashboard As the
vast majority of the business is digital, there
is an open opportunity to leverage the power of
this data. Marketing dashboards show you the
powerful insights for continuous monitoring of
the targets you have achieved or what still you
have to achieve. Below you can read its wide
scope
12
(No Transcript)
13
Tracking Reports What you track on your marketing
dashboard will ultimately depend on what you
want to accomplish with the data. If you are
looking to track a specific campaign, its best
to create a separate dashboard to monitor
results. But for day-to-day activity, its good
to track a combination of social media, sales and
web traffic as demonstrated on this dashboard.
Traffic sources are extremely important to
monitor for every business because brand
discovery is crucial to identify marketing
opportunities. For example, if many of your leads
are coming through referrals, maybe you should
consider offering incentives to current customers
for introducing new shoppers. Leads Information
KPI Dashboards contain data regarding website
performance. It shows the data of visitors, hits
on the site and visitors actually turned into
buyers. This data will be generated on the
dashboard in the form of graphs and charts which
can be customized according to the requirement of
the teams. It gives the clear picture about the
trial, captured and non-trail leads. So,
marketers and top management professionals can
get an idea where they have to work extra to
generate more leads.
14
Real-Time Data The greatest value of a modern mar
keting dashboard lies in its ability to provide
real-time information about a companys
performance. From leads to social media metrics
everything is based on real-time data of the
visitors. Dashboards are capable to generate the
latest information and trends about their
visitors, their preferences, and their buying
behavior. So that business leaders, as well as
project teams, can take well-informed and
goal-oriented decisions. Highlight the Problem Ar
ea Moreover, a timely and well-framed KPI dashboa
rd helps to instantly notice problem areas. This
shows the high-performance area as well as the
area that need more focus and planning. Managers
those who use KPI dashboards daily for getting a
quick overview, know their weak points and frame
the marketing strategies to overcome with them.
Marketing KPI Dashboard for Success Hence a
marketing dashboard is like a cars dashboard
that allows the team to drive towards their goals
with ready knowledge of whats going on under the
hood. In the present data-driven world, this type
of visibility enables course corrections on a
daily, or even hourly, basis, in contrast to
traditional monthly or quarterly reporting
cadences. Therefore, insights gathering will make
the marketing smarter, agile and effective. Each
KPI metrics in a dashboard lead marketing team
with valued learning and more informed
decision-making.
15
Thanks For Watching This Video
Connect With Source Url-
https//bit.ly/2vMAzJ7 Call U
s- 1-434-608-0184